MMF Assets Jump for 3rd Straight Week
Money market mutual fund assets have been on a tear the past two and a half months and past three weeks, rising by $54.8 billion the past 3 weeks and by $76.9 billion since July 30. They appear to be repeating their 2012 and 2013 pattern of rising sharply in the second half of the year after falling in the first half. ICI's latest "Money Market Fund Assets" release says, "Total money market fund assets1 increased by $16.97 billion to $2.63 trillion for the week ended Wednesday, October 8, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $1.36 billion and prime funds increased by $13.74 billion. Tax-exempt money market funds increased by $1.87 billion." It explains, "Assets of retail money market funds increased by $6.07 billion to $909.18 billion. Among retail funds, Treasury money market fund assets increased by $2.36 billion to $202.67 billion, prime money market fund assets increased by $2.65 billion to $521.01 billion, and tax-exempt fund assets increased by $1.06 billion to $185.51 billion. Assets of institutional money market funds increased by $10.90 billion to $1.72 trillion. Among institutional funds, Treasury money market fund assets decreased by $1.00 billion to $757.07 billion, prime money market fund assets increased by $11.09 billion to $892.91 billion, and tax-exempt fund assets increased by $810 million to $71.89 billion." Year-to-date, money fund assets have declined by $88 billion, or 3.2%.
